Guide to income you must declare

Pensions, annuities and government payments

Pensions and annuities

Pensions and annuities are regular payments made as a superannuation income stream, including those paid to you (pensions) and payments usually purchased with a lump sum payment from a life insurance company (annuities). Most pensions have both taxable and tax-free components.

Government payments

Government payments include payments such as the age pension, carer payment, Austudy payment, Newstart allowance and youth allowance. Some government payments must be declared on your tax return, while others are exempt from income tax and do not need to be included on your tax return.

If you receive a foreign pension, refer to Foreign income.

Income you must declare - home

Sections within Pensions, annuities and government payments

• Pensions and annuities
• Government payments